Groupon (NASDAQ:GRPN) Trading 3.9% Higher on Analyst Upgrade

Groupon, Inc. (NASDAQ:GRPN)’s share price traded up 3.9% on Friday after Ascendiant Capital Markets raised their price target on the stock from $42.00 to $70.00. Ascendiant Capital Markets currently has a buy rating on the stock. Groupon traded as high as $46.99 and last traded at $46.54. 16,964 shares changed hands during trading, a decline of 98% from the average session volume of 1,047,181 shares. The stock had previously closed at $44.79.

Several other research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of Groupon from $28.00 to $35.00 and gave the stock an “underweight” rating in a report on Monday, May 10th. Wedbush lifted their price objective on shares of Groupon from $29.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 3rd. Credit Suisse Group lifted their price objective on shares of Groupon from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, May 10th. Finally, JPMorgan Chase & Co. raised shares of Groupon from an “underweight” rating to a “neutral” rating and set a $48.00 price objective on the stock in a research report on Monday, March 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $42.44.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Groupon by 6.7% in the first quarter. BlackRock Inc. now owns 1,758,508 shares of the coupon company’s stock valued at $88,882,000 after purchasing an additional 110,913 shares during the period. Penserra Capital Management LLC raised its position in shares of Groupon by 6.0% in the first quarter. Penserra Capital Management LLC now owns 1,402,706 shares of the coupon company’s stock valued at $70,899,000 after purchasing an additional 78,795 shares during the period. SummerHaven Investment Management LLC bought a new stake in shares of Groupon in the fourth quarter valued at approximately $912,000. Prentice Capital Management LP raised its position in shares of Groupon by 18.6% in the first quarter. Prentice Capital Management LP now owns 555,403 shares of the coupon company’s stock valued at $28,073,000 after purchasing an additional 87,119 shares during the period. Finally, Islet Management LP raised its position in shares of Groupon by 69.2% in the first quarter. Islet Management LP now owns 550,000 shares of the coupon company’s stock valued at $27,800,000 after purchasing an additional 225,000 shares during the period. 69.85% of the stock is currently owned by institutional investors.

The firm’s 50-day moving average is $47.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 6.74. The firm has a market capitalization of $1.36 billion, a P/E ratio of -20.83 and a beta of 2.88.

Groupon (NASDAQ:GRPN) last posted its quarterly earnings results on Thursday, May 6th. The coupon company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $1.35. The company had revenue of $263.82 million for the quarter, compared to analyst estimates of $221.87 million. Groupon had a negative net margin of 4.58% and a negative return on equity of 25.13%. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.63) earnings per share. Equities research analysts predict that Groupon, Inc. will post 0.22 earnings per share for the current year.

About Groupon (NASDAQ:GRPN)

Groupon, Inc operates a marketplace that connects consumers to merchants. It operates in two segments, North America and International. The company sells goods or services on behalf of third-party merchants; and first-party goods inventory. It serves customers through its mobile applications and websites.

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